The approximately 4,600 tenants of establishments for seniors managed by the Réside Etudes Seniors (RES) group, under the banners Les Girandières and Palazzo, can breathe: the prospect of liquidation of this operator, bankrupt since June 11, is receding.
“A recovery solution over a very large area seems possible.”rejoices Jean-Paul Vaysset, director of a residence in Les Girandières, near Orléans, and member of the social and economic committee. But discussions will continue over the weekend to try to combine certain offers. » Several intersecting and competing transfer plans will be examined during a hearing convened on Monday, November 4, by the Paris commercial court. A decision is expected at the end of the month to choose the most solid solution that best preserves the interests of employees, owners and residents.
On Tuesday, October 30, the deadline set by the receivers, nine proposals from competitors or real estate investors were put on the table, aimed at between 2 and 75 residences depending on the appetite of each one, out of a total of 78 addresses managed by RES .
In the process, two of these suitors – Aquarelia Holding and Dom’Hestia – have joined, according to our information, the Zénitude project, a specialist in the recovery of residences in Strasbourg, created by two brothers, Thomas and Romain Lubrano, who say they have the support of the American group Choice. International Hotels. Enough to raise the number of sites acquired by this consortium to 76, not including two residences under construction, with a commitment to retain 1,060 employees out of approximately 1,250.
Possible recovery plan
At the moment, this is the only global offer that compares to the one proposed by Pascal Cadeau, creator of the Les Girandières brand that he sold to the Réside Etudes group. This sector expert, who has relaunched under the Les Jasmins brand, wants to recover 67 establishments, plus 10 delivery ones. He admits, however, “looking for financial partners”. To see if alliances are possible, for example with Domus Vi, the most established competitor, or Stella, supported by a textile businessman, each of which is targeting around thirty locations.
To these offers was added at the last moment, according to our information, a signal of interest from a real estate fund, whose identity has not been revealed, willing to participate in a recovery plan under the auspices of the Groupe Réside Etudes, the same group which brought its subsidiary RES to the brink of liquidation. The operator of hotels and student residences, created in 1989 by Philippe Nicolet and also owner of Les Estudines, Stud’City and Residhome, is subject to a safeguarding procedure from which it can expect to emerge in December. To do this, it is negotiating with its creditors a rescheduling of its debt in exchange for reducing costs.
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